The Minister for Trade and Investment, David Ridgway, has announced that Hong Kong tech firm, CVX Semiconductor, has been awarded a coveted place in the South Australian Landing Pad (SALP) Program.
The company, which specialises in next generation power electronic devices and circuits, will establish its engineering and research capability here in Adelaide.
The company also plans to expand its operations and begin manufacturing wide-band gap devices, as the global market for components used in products such as electric vehicle charging stations and wireless phone chargers continues to grow.
Minister Ridgeway believes that the move will boost our local manufacturing capabilities and bring a new level of tech innovation to South Australia.
“The Adelaide facility will mean IP is being developed, commercialised, manufactured and exported from Adelaide. It will also operate as a research and development centre for high-powered devices and circuits for VX-Power based in Hong Kong.
“It brings huge potential for more local production of devices right here on our doorstep in South Australia.
“South Australia has a deep automotive and defence manufacturing history – a strong base for new and existing manufacturers to pivot into advanced industries including automation, defence, photonics and frontier materials.
“This project is a great win for our state and a significant reward for our Hong Kong trade and investment office representative, Alice Jim.
“The Landing Pad Program is just one way that we are proactively targeting international companies like CVX Semiconductor and businesses that can bring great economic benefit, networks and global profile to our state.”
The company, which already has on-the-ground staff at Stone & Chalk and Lot Fourteen, will use the Landing Pad to explore more permanent accommodation and manage migration of key talent to the state in order to start local technology transfer and research development projects with universities and businesses. Eventually, the company plans to establish offices and manufacturing capabilities at the Tonsley Innovation District in South Australia.
CVX will grow its initial employee base to approximately six, but with its key testing and manufacturing activities still to be developed, it has plans to expand this number to around 50 over the next five years.
Under its SALP agreement, CVX Semiconductor will be provided with up to $40,000 to access office space within one of the state’s existing co-working spaces and up to $40,000 to access local professional services including financial, legal or migration services.
CTO of CVX, Dr Ted Kok, says that the company is establishing its research and development centre in Adelaide in order to access and work with the high quality engineering capabilities and universities here.
“Adelaide is also one of the largest manufacturing bases for Li-ion battery cells, and solar panels, which together with our wide band gap semiconductor devices/circuits, will be the three musketeers of the future clean energy industry,” Dr Kok explained.
“Adelaide’s carefully planned hi-tech precincts such as Lot Fourteen and Tonsley, have gathered together an exciting group of potential customers and collaborators.
“We’re delighted to already be working on various R&D projects and post graduate students’ work which will train new streams of workers and support the innovation of next-generation products from South Australia.”
The Landing Pad Program is a crucial conduit for companies looking to expand into South Australia creating connections between local businesses such as vendors, business partners, customers and collaborators.
For further information on the SALP, including details on eligibility, see here.
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